Trump Has Vowed to Cancel ‘Global Warming Payments’
The State Department on Tuesday announced it has transferred a further $500 million to a U.N.-affiliated global climate change fund whose congressional critics have derided as a ‘slush fund” and “handout to foreign bureaucrats.”
The move comes three days before the inauguration of a president who pledged days before his election victory to “cancel billions in global warming payments to the United Nations” and devote funds instead to “environmental infrastructure” at home.
The $500 million is the second transfer to the Green Climate Fund, whose aim is to help developing countries reduce greenhouse gas (GHG) emissions and adapt to occurrences blamed on climate change such as rising sea-levels and drought.
President Obama pledged $3 billion to the GCF over four years, and a first instalment, also $500 million, was paid last March.